Interest Only Mortgages

Interest-only mortgages have been described as a "ticking timebomb"

FCA warns on interest-only mortgage "ticking timebomb"

New research from the Financial Conduct Authority has found that 37 per cent of people with an interest-only mortgage believe they have a shortfall in repaying the capital.

HSBC and the Yorkshire BS have pulled out of interest-only mortgages

HSBC and Yorkshire BS pull out of interest-only mortgages

HSBC and the Yorkshire Building Society have followed Nationwide and the Co-operative Group in pulling out of the residential interest-only mortgage market.

Ray Boulger of mortgage broker John Charcol

Clydesdale Bank launch interest-only mortgage option

Bucking the trend of other lenders the Clydesdale bank has launched an interest-only mortgage that revers to a repayment mortgage after three years.

RBS and NatWest have will stop offering interest-only mortgages

NatWest and RBS pull out of interest-only mortgage market

Two other major lenders, NatWest and RBS have pulled out of the interest-only mortgage market with experts predicting that they could become a niche product.

The credit crunch ended an era when some lenders threw money at borrowers

Will interest-only mortgages become the next mis-selling scandal?

Nationwide's decision to pull interest-only mortgages could mean that they become a niche product only offered by private banks.

Nationwide has pulled interest-only mortgages from the market

Nationwide pulls interest-only mortgages for new borrowing

The Nationwide Building Society has announced that it will pull interest-only mortgages for new customers but the decision will not affect existing customers.

The Co-op has axed interest-only mortgages for new customers

Co-op quits interest-only mortgage market for new customers

The Co-operative Bank will not allow new mortgage customers to take out a loan on an interest-only basis from May 8th but existing customers will be able to switch to a similar product.

The Nationwide Building Society is set to only allow interest-only mortgages to those with 50% equity

Nationwide culls interest-only mortgages unless you have 50% equity

The Nationwide Building Society will only advance interest-only mortgages to borrowers if they have 50 per cent equity in their homes.

The Co-op is scrapping fees for switching to a repayment mortgage

Co-operative Bank waives mortgage switching fee

The Co-operative Bank is offering homeowners on an interest-only mortgage the chance to switch to a repayment mortgage without incurring the normal £50 fee.

Interest-only mortgages ahve seen a decline in popularity since 2007

The decline of interest-only mortgages

Figures from the Council of Mortgage Lenders (CML) show interest-only mortgages accounted for just four per cent of first-time buyer mortgages in March 2011, down from a high of 30 per cent in 2007. Kate Saines explains why they are falling in popularity.

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